insurer of last resort

WMUK News
5:31 pm
Fri April 18, 2014

Blue Cross Blue Shield Pays State $100 Million

Blue Cross Blue Shield has made its first payment to a state fund for health programs. Gongwer News Service reports the amount is $100 million.

The company has to pay because its legal status changed under the Affordable Care Act. Previously it was called an insurer of last resort. But the health care law makes it unnecessary for states to carry those.

The state now considers Blue Cross a nonprofit mutual.

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